How to Calm Down

[Louis Proyect]

What would be interesting is to track the capital flows right now. Today's
NY Times reports that the South African stock exchange is down by 46% from
the beginning of the year. This fixation on the NY Stock Exchange seems a
little shortsighted to me. We are in a global financial crisis. If South
African investors are pumping up the Dow-Jones because they lack confidence
in the local market, this is not a positive sign for the bourgeoisie.

At 03:01 PM 9/2/98 -0400, you wrote:
>To what extent can or does the stock market "rebound" simply because the
>traders and investors want it to? I guess I'm asking to a more fundamental
>question about Wall Street attitudes, but I do not have the time right now
>to formulate it properly. Inferences are welcome.
>
>Jeff
> ----------
>From: Tom Lehman
>To: lbo-talk at lists.panix.com
>Subject: Re: How to Calm Down
>Date: Wednesday, September 02, 1998 2:09PM
>
>Dear Jim und Max,
>
>Wait for the exhale.  The first breath of bad news will blow this market
>into a tailspin.
>
>
>

Louis Proyect

(http://www.panix.com/~lnp3/marxism.html)